Microsoft repeatedly touted "exclusive" blockbuster content, including "Halo 5 Guardians," from in-house teams and early availability of hotly-anticipated video games such as "Rise of the Tomb Raider," set for release late this year by outside studios.

"There has never been a better time to be an Xbox gamer," said Xbox division head Phil Spencer.

"If you have been waiting to move from your Xbox 360 to Xbox One, now is the time," he said.

Sony PlayStation 4 consoles trounced Xbox One after the new generation consoles hit the market in late 2013. Microsoft since lowered the price and increased the focus on game play, rather than features such as streaming films, and has begun narrowing the sales gap.

The ability of people to re-play previous generation Xbox games that they enjoyed promised to be a hit with gamers who have lamented that upgrading to new hardware, historically, has come with leaving behind old titles that don't work on new consoles.

By the year-end holiday season, Xbox One will support play of select Xbox 360 games for no charge. Spencer noted that it was one of the most requested features from fans.